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Home My WebLink About2426l.ender i w~i~tcn agreemcnt or applicable Iaw. Borrawer shall pay thc amount of all mortgage incurance prcmiums in ~he manne~ pruvided under paragraph 2 hercot. Any amounlc dichu~sed hy I.enJer pur~uant ~~. Ihis paragraph 7, with u~tercct lhercon, thaq hecame additional indehtednesc of H~-rmw~r ~ecured hy ~hi~ Mi~r~~age. Unlt~c Borrower and I.enJer agree ta olbe~ tenns o( payment, such amoun~s shall hc payahlc u~x~n na~icc fn-m 1 cnder t~~ &~rrc~wrr reyuc~ling payment thereof, and~chaq lx~r interesl from the date ot clicbursement at ~he rate payahle (~~~m time to ~ime on outslanding principal under the Note unless payment of interest at such rate would tu contrarv to applicable law, in which event cuch amounts chall bear interest at the highest rate permiuible under applicabk law. Nuthing cont•rined in Ihic paragraph 7 chall rcquire I.ender ta incur any expense or take a~y action hereunder. S. I~apecfios. l.ender may make ~r cai~~e to he made rcau~nable entries u{wn and inspectio~s of lhe Property. provided Ihat l.ander shall give Bc~rrower nc~~~rr priar t~ any such inspectian specifying rcasonabk cause therefor rolatod to I.tnder's interest in the Propeny. 9. Co~demaafioe, The prnceedc ot any award or claim for damages, direc~ or rnnsequential, in connectioo rvith any condemnation o~ other taking of the Property, o~ wn ~~~ror, or fo~ conveyance in lieu ot condemnatioo, are hereby usiaoed and shall be paid to i.ende~. - in the event of a total taking of the Proper~y, the proceeds thall be applied to Ihe sums secured by this Mortaaae. with the excess. if any, paid to BoROwer. in the eveot af a partial taking of thc Properry, unless BoROwer and Lender whervvise agree in writing. therr shall be applied to Ihe cums securcd by this Mongage such proporlion of the proceeds u is equal to that p~oporlion w~hich Ihe amoimt of ~he sumc secured by this Mortgage immediately prior to the date ot taking bears to the fair market value of the Propcr~y immediately priar to the date of ~aking, with the balance of the proceeds paid to Botrower. if the Property is ahandoned by Borrovrer. ~r if. after notice by I_ender to Bormwer that tht condemnor oQers to make an awa~d or uttle a claim for damage+. Borrower tail. to respond to 1_ender within 30 days after ihe date such nolice is mailed. Lender ic authorized ta collect and appl} the praceeds, at l.ender's option, either to ratontio~ or repair of the Propeny or to the sum~ ~ecured M• this Mor~gage. Unlesc I_ender and Barrower othenvice agree in w•ritmg. any such application of proceeds to principal shall not extend or postpone the due date of the monthly installmcnts rcferred to in paragraphc t and 2 hereof or change the amou~t of such installmeMs. 10. Borrow~e~ Not Rekased. Exlension of the time for payment or modification of amortiution of the sums secured by this Mo~tgage gnnted by l.ender to aoy cuccecsor in interect of Borrower shall not operate to rclease. in any manner. the liability of the original Bonower and Bc+rrower'c successorc in intercst. l.ender shall not be requircd to commence proceedings against such successor or rcfuse ~o e+ctend time for payment or otherwise modify amortizat~ort of the sums secured by this MartgaRe by rcason of ~ny demand made by the ori¢inal BoROwer and Borrowe~ s successors io intercct. 11. Foretannce 6y i.ender Not a R+dver. Any forhearance by i.ender in e~ercising any right or remedy hercunde~, or otherwise afforded by applicable law, shall nc~t be a waiver of or preclude the exercise of any such right or remedy. The procurement of insurance Qr the payment of taxa or other liens or chargcs by I_ender shall not be a waiver of Lender's right to accelerate the maturity of the indehtcdness cecurcd hy this Mortgage. 12. Remedks Comulafi~e. All rcmedies provided in this Mortgage arc distinct and cumulative to any other right or rcmedy under this Mortgage or afforded hy law or equi~y, and may be exerciud concurrently, independently or successively. ' 13. Srecessors and A~as Bound:.7oiet and Several i.iabiKty; CapHons. The covenants and agreements hercin contained shall bind, and the riRhts hereunder shall inurc to. Ihe respective successors and assigns of Lender a~d Borrower. subject to Ihe.provisiooc of paraRraph 17 hereof_ All covenants and agreements of Borrower shall be jary and sevenl. The captions and headings of the paragraphc of thic Morlgage arc for cor.venience only and are not ta be u~ed to interpret or define the provisions hereof_ 14. NMiee. Except for any notice rcquircd under applicable law to be given in anolher manner, (a) any notice to Borrower provided for in this Mortga¢e shall be given hy mailing such notice by certified mail addressed to Borrower at the Property Addrus or a~ such dher addresc as Bormwer mav designate by notice to I.end~r as provided herein, and (b) any notice to Lender shall he given by certified mail. retum receipt requested. to I.ender s~ddrcss stated hertin or to such o~her addrcss as Lender may deciqnate hy notice ~~ Borrower as provided herein. Any notice provided for in this Mortgage shall be deemed to havc 1+een g~ven to Borrowe~ ar lender when given in the manner designated hercin. IS. Uwitora~ Mort~~e; Governi~~ [aw; Severabilitv. Thic form of mortgage combines uniform covenants for national use and non-uniform covenamc with limited variations hy juricd~c~ion to constia~te a uniform socurity instrument rnverins r~al property. This Morlgage shall be governed hy ~he lav-• of the jurisdiction in which the Property is locatod. In tht event that any provision or claux of ~hic Mortgage c-r ~he Note conflicts wi~h applicabk law, such conflict shall not af~ect other provisions of this Mortgage or the Note whrch can be given effect withoot the conflic~ing provicion, snd to this end the provisions of the Mortgage and ~F~e Note arc Jecl~red to tx severable. 16. Eorrower's Copy. Borrower shall bc furniched a conformed copy of the Note and of this Mort~tage at the time of execution or after rccordation hereof. l7. Transier ot the Propeirlv; Assumplion. If all or any pan of the Property or an interest therein is sold or transferrcd by Borrower without I_ender's prior wr~irrn conun~_ excluding (a1 the creation of a lien or encumbnnce subordinate to this Mortgage. (bl Ihe creat~c-n of a purchace m~nevi cecurity interest for houxhold appliances, (cl a transfer hy devise, descent or by operation of law• upon the Jca~h of a j~an~ lenam or (d1 the grant of any leasehold iMercst of thrcc ycars or kss no1 containing an option to purchase. 1_enJer may. at l.ender'a opUOn, declare all ~ht sums secured by this MoAgage to be immediatel due and a able. Lender chall have wa~ved such o Uon to accclerate if, prior to the cale or t~ansfer. Lender ~ Y P Y P ~ and the person to whom the Property i~ a. bc .oIJ or trans(errcd reach agrerment in writing that the credit o( cuch person is satisfactory to I_ender and that the intcrr.~ pa~~able on ~he sums secured by this Mortgage shall be at soch rate ac Lender j shall request. If I_ender has waived ~he op~ion to accelerate provided in this paragraph 17, and if Borrower i successor io interest has exceuted a wntten assump~ion agreement accepted in wri~ing by Lender. Lender shal) release Borrower from al) j obligations under this Mortgage and the No~e. , { If Lender exercises such option to accclerate. LenJer chall mail Borrower notice of accderation in accardanr~ M•i~h ' paragraph 14 hereof. Such notice chall provide a period o( not less than 30 days from the date the notice is mailed within which Borrower may pay the sums declared due. I( Borrower fails to pay s~ich sums prior to the expintion of wch pe~iod, Lender may, without further no~ice or cicmand an Borrowet. ~nvoke any remedia permit~ed by pangraph IR here~f_ i NON-UNIFORM COVENANTS Borrower and Lender further covenant and a6ree u tollows: i ls. Accekratbn; Remedia. Except as provided ia p~~nph 1'7 iiereof. npo~ iorrowers breac~ of ~ny co~enawt or ~ a~recmc~t ot Eorrowtr in this Mortga~t. includi~ the corcnants to pay when dYC awy soa~s xcured py thts MorlRs~e. I.ewder ~ , ~ prbr lo accekntbn shdl mail notke to dorrower as provided in para~raph 14 hereot specHyieK: (1) tAe breach: (21 tAe setbw ! ~equired to crre socb brracb;l3) s d~te. not less than 30 dars fron~ the dMe the notke b mailed to Sorrower. br wAkh wcl~ ~ ~esch mwt be crnd: snd (1) tbst failure to core srcM bresch os or bctore ~be dMe speciAed is tAe ~oticc may resWt h i ~ecekntioa ot tbe snms securcd Sy lbis MortRs~e. /orecbwre br jndkial proceedin~ snd sale ot IAe Pwpeet~. 7Ue notkt ; shaN f~rtber inform eorror.er ot the riRM to ninstate d~er aceckrstba snd tbe riahl b av~ert is Ibe foreclosrrc rroeeedi~ { tbt son-e~isttnct ot ~ defauk or any olher detense ot Eorroner to accekrstion and torecbsort. /t tAe brt~cM is not cmd ow G or 6efore the date spcci6ed ia lhe notice. Lender at I.ender's apio~ wsy Aeelsre NI of tbe sen~s x~ued ~' this MoARaRe to be E im~ediately due and payable .rithout tuNher dem:,nd and may forecbse Mb Mortsa~e 6r judkW ~ceedi~. i.endc- ~ be eotitled !o co11tt1 M wcl~ ProcetdinR ~0 e:penses of (oreclosrre. {nclndin~. b~t wot Umited to. reasonabk sta,rnev's fees. ~ asi tusts ot doe~n~estary eridence. abstrscts ~nd ~itk npoAs. ; 19, Dorruwels R16ht to Reir-state. Nolwithc~anding 1 ender's acceltration of the sums secured by ~h~s Mort6agt. ! Borrower shall have Ihe right ~o havt any prcxerd~ne• tx~~in by ltnder to en(orct ~his Mon~taqe d~scon~~nued at my hme i ~ F i . ~ ~~~.-_.~_.__.... _:= -. _ ~ -..-- go~x345 P~Gr2~25 i '-t~;